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Should you email the SEC if you are planning to put out a fake press release about a fake tender offer? I guess it doesn’t matter much either way. They can see the press release. I suppose you can argue “no, this was a real offer, as you can see because I emailed the SEC […]
The meteoric rise in generative artificial intelligence has dramatically altered the corporate landscape as companies increasingly invest in or incorporate artificial intelligence, including machine learning technologies (together referred to herein as “AI”), into their businesses. The increasing adoption of AI presents tremendous opportunities to harness data on a vast scale, but it also presents numerous […]
In the Jarkesy case, the Democratic administration is relying on a 50-year-old decision in which the court ruled that in-house proceedings did not violate the Constitution’s right to a jury trial in civil lawsuits. But Chief Justice John Roberts, signaling his concerns with the power of federal regulators, noted that “the impact of governmental agencies […]
It’s strange to think now how crypto received Gary Gensler as he became Securities and Exchange Commission chair in 2021. At the time, he was a breath of fresh air for an industry that badly needed change. His SEC predecessor, Jay Clayton, had seemed largely disinterested in digital assets, whereas Gensler had taught courses on […]
The US Supreme Court’s conservative majority cast doubt on the Securities and Exchange Commission’s use of in-house judges, hearing arguments in a case that could strip the agency of a key enforcement tool. In a session that lasted more than two hours Wednesday, the justices suggested that people accused of fraud by the SEC have […]
The Securities and Exchange Commission today announced fraud charges against Phoenix-based real estate investment company ArciTerra Companies LLC and its CEO, Jonathan M. Larmore, for engaging in a multi-year scheme to misappropriate millions of dollars of investor funds from investment vehicles that ArciTerra managed. The SEC also charged several entities controlled by Larmore for their […]
It’s worth pondering the practical implications of such a ruling. Would the SEC be able to protect investors and regulate securities markets if it had to bring its cases to district court? Undoubtedly. But throwing out the intelligible-principle test would cast doubt on existing regulations — as many as hundreds of thousands across the government […]
But if Jarkesy wins a total victory on the nondelegation argument, that’s different. That could mean that all of the SEC’s rulemaking (and every other regulatory agency’s rulemaking) is suspect, that every policy decision that the SEC makes is unconstitutional. Much of US securities law would need to be thrown out, or perhaps rewritten by […]
The SEC and US audit board plan to combine their enforcement resources to target serious audit violations and auditors with a history of repeated missteps, officials with the two regulators said Tuesday. “There are firms that just continually come up in our space,” Ryan Wolfe, chief accountant for the Division of Enforcement at the Securities […]